LSDefine

Simple English definitions for legal terms

option

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A quick definition of option:

An option is an agreement that gives someone the right to buy something or do something in the future, but they don't have to if they don't want to. It's like having a special ticket that lets you buy something at a certain price or time, but you don't have to use it if you don't want to. Options can be used for things like buying property, stocks, or other things.

A more thorough explanation:

An option is a type of agreement that gives someone the right to buy or sell something in the future, according to specific terms that have been agreed upon. This can include property, stocks, or other assets.

For example, if someone has an option to buy a house, they have the right to purchase the house at a specific price within a certain timeframe. However, they are not obligated to buy the house if they choose not to.

Similarly, if someone has a stock option, they have the right to buy a certain number of shares of a company's stock at a specific price within a certain timeframe. Again, they are not obligated to buy the shares if they choose not to.

Overall, an option is a way for someone to have the right to buy or sell something in the future, without being obligated to do so.

opinion | Option ARM

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

[M] cheriebomb

15:41

just for u sweetie pie

llama

15:43

woah so much swagger with dat 'm;

Dkk

15:47

@shaquilleoatmeal: more like, blow my back out by the bay boston instead of back bay boston.

llama

15:48

https://www.urbandictionary.com/define.php?term=Chad%20Thundercock

Dkk

15:48

Indeed, the legendary man himself.

cheriebomb

15:49

I would go to blow my back out by the bay boston

llama

15:50

lift with ur back not your legs, its better to have a blown back than two bad legs

CynicalOops

15:53

Blow and back day out by boston bay

cheriebomb

15:59

so true

Dkk

16:03

Of course. Man sad Ricky Henderson died. That was my favorite athlete of all time.

windyMagician

16:10

is it dumb that I rlly want to go to Mich even tho I have a full ride to umn

llama

16:12

no-value as a consumer often means more than the price

Dkk

16:15

@windyMagician: Nah michigan is better than UMN

Dkk

16:15

My sister just officially graduated, yay!

llama

16:16

awesome @Dkks sister

llama

16:16

prolly named veronica or sarah

windyMagician

16:16

@Dkk: for public defense tho?

windyMagician

16:16

Sarah in the bathroom

texaslawhopefully

16:17

@windyMagician: not at all. Michigan is also very generous with aid, so if you get enough it makes perfect sense to take it.

windyMagician

16:17

fuck okay

windyMagician

16:17

going to my dream school is crazy

KnowledgeableRitzyWasp

16:18

michigan also has better options if you do PD for 10 years then want to do something else

windyMagician

16:19

also would love to clerk for my federal district court even tho I know its hella competitive, I think mich sets me up better?

llama

16:20

would be a great point to bring up when ur deciding / visiting each place- see what recent placement looks like

texaslawhopefully

16:23

For fed clerkships by far Michigan places better. I think it’s like 14-15 percent

windyMagician

16:25

sticker debt is high-key scary tho

texaslawhopefully

16:26

I’m sure you’ll get good merit aid though. Look at Michigan’s 509 report. They’re very generous.

cheriebomb

16:34

i am going to wait patiently into january to get into a law school

cheriebomb

16:34

then i will start tweaking

texaslawhopefully

16:42

January could not come any sooner

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